Global Aluminum Extrusion Market 2019-2023

Global Aluminum Extrusion Market 2019-2023

Global Aluminum Extrusion Market: About this market

Aluminum extrusion is used to develop products with cross-sectional profiles in construction, electrical, machinery, transportation, and consumer durables industries. Technavio’s aluminum extrusion market analysis considers sales from the mill-finished, anodized, and powder coated segments. The products are sold to building and construction, automotive and transportation, machinery and equipment, consumer durables, electrical and electronics, and other end-users. Our analysis also considers the sales of aluminum extrusion in APAC, Europe, MEA, North America, and South America. In 2018, the mill-finished segment held the highest market share, which is expected to remain prevalent over the forecast period. Factors such as the thriving construction market in developing countries and the recovering real estate sector in developed countries will significantly help the mill-finished segment in maintaining its leading market position. Also, our global aluminum extrusion report has observed market growth factors such as increasing demand for aluminum extrusion from the automotive industry, growth of the real estate and construction industries, and growing demand for lightweight and high-performance materials. However, excess production capacity leading to increased fixed cost for manufacturers, growing competition from substitutes, and slowdown of manufacturing sector in China may hamper the growth of the aluminum extrusion industry over the forecast period.

Global Aluminum Extrusion Market: Overview

Growing demand for lightweight and high-performance materials

Aerospace and defense and automobile industries are significantly using lightweight and high-performance materials such as aluminum, carbon fiber, and composites. Among the high-performance materials, aluminum extruded products and highly preferred owing to their significant resistance to high temperature and thermal shock. These products are also completely recyclable with high recycling rate. These factors will increase revenue generation for market vendors. Therefore, growing demand for lightweight and high-performance materials will lead to the expansion of the global aluminum extrusion market at a CAGR of almost 4% during the forecast period.

Increasing adoption of pre-engineered buildings

The deployment of pre-engineered buildings is high in developed countries such as the US, especially in the residential sector. However, the concept of pre-engineered buildings is gaining rapid popularity in developing countries such as India, Brazil, and Argentina. Aluminum extruded products are widely used in pre-engineered building applications. Therefore, increasing adoption of pre-engineered buildings, a significant market trend, will have a positive impact on its overall growth.

For the detailed list of factors that will drive the global aluminum extrusion market during the forecast period 2019-2023, click here.

Competitive Landscape

With the presence of several major players, the global aluminum extrusion market is fragmented. Technavio’s robust vendor analysis is designed to help clients in improving their market positions, and in line with this, this report provides a detailed analysis of several leading aluminum extrusion manufacturers, which include Arconic Inc., China Zhongwang Holdings Ltd., Constellium SE, Guangdong Fenglu Aluminium Co. Ltd., and Norsk Hydro ASA.

Also, the aluminum extrusion market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.